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Global Spices and Seasonings Market to Grow at a CAGR of 6% During 2021-2026, Bolstered by the Rapid Growth ofFast Food Industry

Published on Apr 29, 2021

According to the latest report by IMARC Group, titled “Spices and Seasonings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global spices and seasonings market exhibited moderate growth during 2015-2020.Spices and seasonings are condiments that offer a particular aroma and unique taste to the dish and enhance the shelf life of the products. They prevent the formation of micro-bacteria, which deteriorates and spoils the quality of food. In recent years, spices and seasoningshave extensively been used by consumers worldwide with the growing preference for exotic cuisines and organic ingredients and increasingexpenditure on premium products with new flavors and ethnic tastes.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. 

Global Spices and Seasonings Market Trends: 

The global spices and seasonings market is primarily driven by the rising demand for packaged and convenience food products due to the rapid urbanization and fast-paced consumer lifestyles. The rapid growth of the fast-food industry that extensively utilizes spices and seasonings to create innovative, flavor-rich dishes is also contributing to the market growth. Furthermore, in the foodservice sector, ready-to-use spice mixes are used for enhancing the taste and flavor of dishes. Spices and seasonings are also employed in beauty products on account of their medicinal properties.For instance, turmeric consists of antioxidants that are knownto prevent Alzheimer’s, joint inflammation and cancer. Similarly, cumin seeds contain antiseptic properties that boost the immune system. On account of these factors, the market is expected to grow at a CAGR of 6% during the forecast period (2021-2026).

Market Summary: 

  • Based on the product, the market has been segmented into salt and salt substitutes, herbs (thyme, basil, oregano, parsley, and others), and spices (pepper, cardamom, cinnamon, clove, nutmeg, and others).
  • The market hasbeen categorized based on the application into meat and poultry products; snacks and convenience food; soups, sauces and dressings; bakery and confectionery; frozen products; beverages; and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players beingAjinomoto Co, Inc., ARIAKE JAPAN Co. Ltd., Associated British Foods plc, BARIA GROUP, Döhler GmbH, DS Group, Everest Food Products Pvt Ltd, The Kraft Heinz Company, Kerry Plc, McCormick & Company Inc., Olam International, Sensient Technologies Corporation, SHS GROUP, Spice Hunter, Inc., UnileverN.V./PLC, and Worlée Group.

 

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